Word: allene
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Dates: during 1990-1999
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...University had asked William T. Allen, the chancellor of the Delaware's equity court, for a restraining order delaying Marriot's annual meeting on July 23, when the company is likely to approve the split...
Last Thursday, however, Allen denied the motion, effectively letting the split proceed. Attorneys representing Harvard have argued that the plan to divide Marriott in two will hurt the rate of return on the University endowment of more than $5 billion...
...Allen's decision on Harvard's motion for an injunction portended little success for that suit...
...essence, Allen said in his decision that if the University was so concerned about the split, it should not have invested so heavily in Marriott. The judge wrote that Harvard continued to purchase preferred stock in Marriott even after March 15, when the company first announced there would be no dividends...
...Allen also dismissed a charge made by Harvard's lawyers that the split was rigged to keep three Marriott family members on the company's board of directors. The judge called that suggestion "dark" and "Machiavellian...